Texas Capital Bank Wealth Management Services Inc Has $7.33 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

Texas Capital Bank Wealth Management Services Inc grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 924.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 101,495 shares of the semiconductor company’s stock after acquiring an additional 91,584 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in Lam Research were worth $7,331,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Fairway Wealth LLC increased its position in shares of Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 306 shares in the last quarter. Financial Perspectives Inc raised its position in shares of Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 309 shares during the period. Atwood & Palmer Inc. bought a new position in shares of Lam Research during the 4th quarter valued at about $27,000. Midwest Capital Advisors LLC acquired a new position in shares of Lam Research in the 4th quarter valued at approximately $27,000. Finally, Bell Investment Advisors Inc boosted its holdings in shares of Lam Research by 836.6% in the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 343 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Stock Performance

Shares of LRCX traded down $4.20 during midday trading on Thursday, reaching $66.91. 3,542,077 shares of the stock were exchanged, compared to its average volume of 12,026,191. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The company has a market cap of $85.89 billion, a P/E ratio of 20.33, a PEG ratio of 1.47 and a beta of 1.52. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00. The stock’s 50 day simple moving average is $77.02 and its 200 day simple moving average is $76.65.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, sell-side analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Wednesday, March 5th. Lam Research’s payout ratio is presently 27.96%.

Insider Transactions at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on LRCX shares. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Barclays lowered their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. The Goldman Sachs Group reduced their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Wells Fargo & Company lifted their price target on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.59.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.